Refinancing: Finding a Better Home Loan
Home loans are a long-term financial commitment, which is why it is wise to take some time every so often to assess whether you are getting the most value for your money.
Some households prefer to check in on their home loan annually - at the start of a new calendar year or at tax time, for example - while others reassess their finances at key life stages such as the birth of a new baby.
Either way, it is important to keep an eye on what is out there in terms of home loans - and ensure you have a mortgage that is right for you.
A good way to begin is to consider the features of your mortgage. Are you using all of them? If not, are there other features that you would prefer to have? From ATM withdrawals to the ability to make additional repayments, there are features to suit everyone.
You will also want to weigh up the potential long-term savings value of refinancing against the cost of moving your mortgage - knowing where you stand in terms of sums can help you make an informed decision.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.